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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Morningstar Rating™ - Overall rating out of 91 Infrastructure funds, based on risk-adjusted returns as of 04/30/24

    Reasons to Consider PAVE

    Compelling Need

    The American Society of Civil Engineers assigned a letter grade of C- to the state of U.S. infrastructure in its 2021 report card, highlighting the need for investment.1

    Multiple Long-Term Catalysts

    America is committed to improving its aging infrastructure. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act appropriated nearly $1tn to fund critical infrastructure projects.

    Unconstrained Approach

    As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry classification.

    1American Society of Engineers, Mar 2021

    Key Information As of 05/13/24

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $7.58 billion
    NAV $39.13

    ETF Summary

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in the United States, including those involved in the production of raw materials, heavy equipment, engineering, and construction.

    ETF Objective

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx U.S. Infrastructure Development Index.

    Trading Details As of 05/13/24

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 193,800,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.03%

    Distributions As of 05/13/24

    30-Day SEC Yield 0.63%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 05/13/24

    NAV $39.13 Daily Change -$0.24 -0.61%
    Market Price $39.15 Daily Change -$0.23 -0.58%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 04/30/24)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE -5.88% 30.71% 8.80% 36.67% 44.75% 161.37% 03/06/17
    Returns (as of 05/13/24)
    		Return PAVE Return Index
    Since Inception 172.95% 183.88%
    12 Months 44.49% 45.71%
    24 Months 54.12% 56.02%
    Last 60 Trading Days 7.05% 7.19%
    Last 75 Trading Days 14.12% 14.34%
    Monthly Returns (through 05/13/24)
    		Return PAVE Return Index
    May 2024 4.43% 4.47%
    Apr 2024 -5.88% -5.85%
    Mar 2024 5.53% 5.57%
    Feb 2024 9.91% 10.01%
    Jan 2024 -0.36% -0.34%
    Dec 2023 9.83% 10.07%
    Nov 2023 9.40% 9.57%
    Oct 2023 -5.17% -5.09%
    Sep 2023 -5.90% -5.84%
    Aug 2023 -0.36% -0.32%
    Jul 2023 3.08% 3.12%
    Jun 2023 15.49% 15.55%
    May 2023 -1.18% -1.14%
    Apr 2023 -2.56% -2.56%
    Mar 2023 -2.93% -2.90%
    Feb 2023 0.80% 0.89%
    Jan 2023 9.27% 9.36%
    Dec 2022 -4.67% -4.63%
    Nov 2022 7.95% 7.97%
    Oct 2022 12.25% 12.30%
    Sep 2022 -9.77% -9.79%
    Aug 2022 -2.80% -2.83%
    Jul 2022 15.61% 15.66%
    Jun 2022 -11.54% -11.50%
    May 2022 -1.91% -1.84%

    Total returns take into account management, administration and fees and other costs automatically deducted from the fund's assets. Before investing, you may read the prospectus in the “FEES AND EXPENSES” section for more details.

    NAV & Index Chart

    Top Holdings As of 05/13/24

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.53 ETN EATON CORP PLC United States B8KQN82 328.51 817,192 268,455,743.92
    3.37 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 326.64 785,420 256,549,588.80
    3.17 MLM MARTIN MARIETTA MATERIALS United States 2572079 608.05 397,024 241,410,443.20
    3.15 URI UNITED RENTALS INC United States 2134781 696.67 344,527 240,021,625.09
    3.14 EMR EMERSON ELECTRIC CO United States 2313405 114.82 2,077,767 238,569,206.94
    3.07 PH PARKER HANNIFIN CORP United States 2671501 551.03 424,576 233,954,113.28
    3.03 PWR QUANTA SERVICES INC United States 2150204 265.43 867,862 230,356,610.66
    2.82 VMC VULCAN MATERIALS CO United States 2931205 270.09 793,374 214,282,383.66
    2.81 SRE SEMPRA United States 2138158 77.12 2,772,803 213,838,567.36
    2.75 DE DEERE & CO United States 2261203 407.99 512,951 209,278,878.49
    2.64 NUE NUCOR CORP United States 2651086 173.74 1,157,792 201,154,782.08
    2.64 UNP UNION PACIFIC CORP United States 2914734 245.68 817,592 200,866,002.56
    2.59 HWM HOWMET AEROSPACE INC United States BKLJ8V2 80.22 2,456,147 197,032,112.34
    2.59 CSX CSX CORP United States 2160753 34.52 5,702,244 196,841,462.88
    2.53 FAST FASTENAL CO United States 2332262 67.36 2,862,044 192,787,283.84
    2.50 NSC NORFOLK SOUTHERN CORP United States 2641894 230.98 822,141 189,898,128.18
    2.31 ROK ROCKWELL AUTOMATION INC United States 2754060 268.92 653,842 175,831,190.64
    2.12 FTV FORTIVE CORP United States BYT3MK1 76.83 2,097,395 161,142,857.85
    1.71 STLD STEEL DYNAMICS INC United States 2849472 134.85 964,428 130,053,115.80
    1.69 HUBB HUBBELL INC United States BDFG6S3 402.02 319,296 128,363,377.92
    1.62 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 167.37 734,929 123,005,066.73
    1.58 CSL CARLISLE COS INC United States 2176318 414.69 289,919 120,226,510.11
    1.57 WLK Westlake Corporation United States B01ZP20 156.27 764,213 119,423,565.51
    1.37 EME EMCOR GROUP INC United States 2474164 373.56 279,369 104,361,083.64
    1.37 J JACOBS SOLUTIONS INC United States BNGC0D3 138.32 752,595 104,098,940.40
    1.33 IEX IDEX CORP United States 2456612 225.42 450,387 101,526,237.54
    1.32 RS RELIANCE INC United States 2729068 293.80 343,120 100,808,656.00
    1.15 RPM RPM INTERNATIONAL INC United States 2756174 113.83 767,778 87,396,169.74
    1.11 TRMB TRIMBLE INC United States 2903958 57.06 1,484,060 84,680,463.60
    1.10 GGG GRACO INC United States 2380443 83.19 1,004,992 83,605,284.48
    1.07 PNR PENTAIR PLC United States BLS09M3 82.63 984,012 81,308,911.56
    1.04 WMS ADVANCED DRAINAG United States BP7RS59 171.02 463,487 79,265,546.74
    1.04 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 231.66 341,565 79,126,947.90
    1.02 BLD TOPBUILD CORP United States BZ0P3W2 409.66 189,697 77,711,273.02
    0.98 ACM AECOM United States B1VZ431 92.00 809,671 74,489,732.00
    0.87 TTEK TETRA TECH INC United States 2883890 210.16 316,608 66,538,337.28
    0.84 RRX REGAL REXNORD CORP United States 2730082 162.27 394,676 64,044,074.52
    0.83 WWD WOODWARD INC United States 2948089 176.88 357,744 63,277,758.72
    0.73 EXP EAGLE MATERIALS INC United States 2191399 267.71 208,088 55,707,238.48
    0.71 WCC WESCO INTERNATIONAL INC United States 2416973 177.83 304,474 54,144,611.42
    0.70 CLF CLEVELAND-CLIFFS INC United States BYVZ186 17.70 3,002,001 53,135,417.70
    0.66 X UNITED STATES STEEL CORP United States 2824770 37.97 1,325,548 50,331,057.56
    0.66 MTZ MASTEC INC United States 2155306 106.98 466,850 49,943,613.00
    0.63 CR CRANE CO United States BNYD4F8 142.36 336,141 47,853,032.76
    0.63 AYI ACUITY BRANDS INC United States 2818461 261.76 182,555 47,785,596.80
    0.61 RBC RBC BEARINGS INC United States B0GLYB5 267.81 173,002 46,331,665.62
    0.60 ATI ATI Inc United States 2526117 59.92 756,077 45,304,133.84
    0.57 TPC TUTOR PERINI CORP United States 2681760 18.79 2,320,933 43,610,331.07
    0.56 AA ALCOA CORP United States BYNF418 40.16 1,059,067 42,532,130.72
    0.54 POWL POWELL INDUSTRIES INC United States 2697422 160.16 256,224 41,035,554.72
    0.52 MLI MUELLER INDUSTRIES INC United States 2609717 58.27 683,723 39,840,539.21
    0.52 CMC COMMERCIAL METALS CO United States 2213260 57.37 691,491 39,670,838.67
    0.50 LPX LOUISIANA-PACIFIC CORP United States 2535243 88.14 427,032 37,638,600.48
    0.49 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 139.00 270,494 37,598,666.00
    0.46 STRL STERLING INFRAST United States 2632876 128.08 275,911 35,338,680.88
    0.46 BMI BADGER METER INC United States 2069128 194.20 180,706 35,093,105.20
    0.45 ATKR Atkore Inc United States BDHF495 155.97 221,076 34,481,223.72
    0.44 ZWS Zurn Elkay Water Solution United States BMV1ZD3 32.55 1,030,330 33,537,241.50
    0.42 VMI VALMONT INDUSTRIES United States 2926825 259.88 123,490 32,092,581.20
    0.42 MDU MDU RESOURCES GROUP INC United States 2547323 25.28 1,256,287 31,758,935.36
    0.42 USLM US LIME & MINERA United States 2724115 368.78 85,690 31,600,758.20
    0.41 DXPE DXP ENTERPRISES INC United States 2276627 50.51 618,544 31,242,657.44
    0.41 CENX CENTURY ALUMINUM COMPANY United States 2186254 17.78 1,749,545 31,106,910.10
    0.40 AGX ARGAN INC United States 2804501 67.23 448,553 30,156,218.19
    0.40 CRS CARPENTER TECHNOLOGY United States 2177504 103.20 291,925 30,126,660.00
    0.40 PRIM PRIMORIS SERVICES CORP United States B1GC200 49.32 610,662 30,117,849.84
    0.39 EXPO EXPONENT INC United States 2330318 94.72 311,712 29,525,360.64
    0.39 SUM SUMMIT MATERIA-A United States BW9JPS4 40.14 732,767 29,413,267.38
    0.36 DNOW DNOW INC United States BMH0MV1 13.78 2,000,090 27,561,240.20
    0.36 GVA GRANITE CONSTRUCTION INC United States 2381189 62.60 438,102 27,425,185.20
    0.36 DY DYCOM INDUSTRIES INC United States 2289841 149.73 181,170 27,126,584.10
    0.36 MWA MUELLER WATER-A United States B15RZR4 19.14 1,414,185 27,067,500.90
    0.35 HRI HERC HOLDINGS INC United States BZBZ020 158.14 168,314 26,617,175.96
    0.35 MRC MRC GLOBAL INC United States B7M66F1 13.85 1,898,913 26,299,945.05
    0.34 ROAD CONSTRUCTION P-A United States BDT5M66 54.92 473,811 26,021,700.12
    0.34 KNF KNIFE RIVER CORP United States BPLL4V5 77.21 333,658 25,761,734.18
    0.33 ACA ARCOSA INC United States BGPZ5W8 87.63 288,645 25,293,961.35
    0.33 NWPX NORTHWEST PIPE CO United States 2035925 35.97 689,975 24,818,400.75
    0.32 TEX TEREX CORP United States 2884224 62.01 399,481 24,771,816.81
    0.31 TRN TRINITY INDUSTRIES INC United States 2904627 30.99 770,773 23,886,255.27
    0.31 MTX MINERALS TECHNOLOGIES INC United States 2595612 79.81 296,778 23,685,852.18
    0.30 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 44.22 524,192 23,179,770.24
    0.30 GBX GREENBRIER COMPANIES INC United States 2387530 53.22 429,709 22,869,112.98
    0.30 CSWI CSW INDUSTRIALS INC United States BYQD1J6 241.94 93,355 22,586,308.70
    0.29 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 153.48 143,171 21,973,885.08
    0.29 HAYN HAYNES INTERNATIONAL INC United States B02WVH7 59.18 371,098 21,961,579.64
    0.28 MTUS METALLUS INC United States BNBPMX1 22.33 968,323 21,622,652.59
    0.28 CXT CRANE NXT CO United States BQ7W2W6 60.57 348,351 21,099,620.07
    0.27 GRC GORMAN-RUPP CO United States 2379281 32.76 623,827 20,436,572.52
    0.27 IIIN INSTEEL INDUSTRIES INC United States 2325875 33.47 605,514 20,266,553.58
    0.26 ASTE ASTEC INDUSTRIES INC United States 2060370 34.50 563,232 19,431,504.00
    0.25 HEES H&E EQUIPMENT SE United States B0WR848 49.27 387,245 19,079,561.15
    0.24 MTRN MATERION CORP United States 2149622 112.19 166,512 18,680,981.28
    0.24 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 74.26 248,002 18,416,628.52
    0.24 WNC WABASH NATIONAL CORP United States 2932048 23.06 777,288 17,924,261.28
    0.23 TITN TITAN MACHINERY INC United States B29H3T5 23.40 736,799 17,241,096.60
    0.18 CTOS CUSTOM TRUCK ONE United States BL66YS4 4.56 3,092,900 14,103,624.00
    0.18 CALX CALIX INC United States B3S4L67 30.52 443,293 13,529,302.36
    0.17 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.03 585,595 12,900,657.85
    0.11 CASH United States 1.00 8,287,768 8,287,767.91
    0.06 OTHER PAYABLE & RECEIVABLES United States 1.00 4,581,526 4,581,526.32
    0.00 ESM4 INDEX S&P500 EMINI FUT JUN24 United States 262,275.00 1 262,275.00
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 04/30/24

    Sector Weight (%)
    Industrials 72.1
    Materials 21.6
    Utilities 3.1
    Information Technology 1.8
    Consumer Discretionary 1.0
    Financials 0.2
    Other/Cash 0.2

    Source: AltaVista Research, LLC

    ETF Characteristics As of 05/13/24

    Return on Equity 15.80%
    Weighted Avg. Market Cap 38,165 M
    2023 2024
    Price-to-earnings 21.25 20.12
    Price-to-book value 3.39 2.99

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 04/30/24

    Versus Beta
    S&P 500 1.27
    MSCI EAFE 1.20
    MSCI Emg. Mkts 0.76
    Standard Deviation 24.80%

    Source: AltaVista Research, LLC

    ETF Documents

    TERMS OF USE

    Global X Brasil Gestora de Investimentos Ltda. (“Global X Brasil”) is an asset manager authorized by the Brazilian Securities and Exchange Commission (“CVM”), constituted in the form of CVM Resolution No. 21/2021. Investing involves risks. The material on this site is for informational purposes only and does not constitute investment advice, recommendation, offer or solicitation to buy or sell any securities, funds, or strategies to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be illegal under the securities laws of such jurisdiction. Opinions expressed here are subject to change without notice. Reliance upon the information contained in this material is at the sole discretion of the reader. No securities regulator has confirmed the accuracy of any information contained herein. Access to the information on this site or the use of the services or information provided herein is prohibited by any person or entity in any jurisdiction or country where such distribution or use is contrary to local law, rules, or regulation. Investment in index funds (ETFs) involves risks, including detachment from the benchmark index and related to the liquidity of shares in the secondary market. Investment funds managed by Global X Brasil use strategies that can result in significant equity losses for their quota holders. Global X Brasil, its partners and employees are exempt of responsibility for any damages resulting directly or indirectly from the use of the information contained on this website.

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